Last Updated on October 23, 2023
McCarthy-backed Speaker of the House candidate Tom Emmer called FTX founder and accused massive financial fraudster Sam Bankman-Fried, whose now-defunct crypto exchange helped bankroll the uni-party establishment, “a very likable young man.”
Both before and after Sam Bankman-Fried and his FTX crypto exchange came tumbling down, drawing comparisons to notorious Ponzi schemer Bernie Madoff, Minnesota GOP Rep. Tom Emmer spoke highly of SBF and his industry as a whole.
When FTX crashed and Sam Bankman-Fried’s face was plastered on television screens and media stories all over the world, Emmer was one of the few politicians in America not piling onto the alleged scammer who faces a laundry list of federal charges.
“I’m not going to pass judgment until we see what all the details are,” Emmer told the press at the time, before adding that Sam Bankman-Fried is “a very likable young man.”
As mentioned, Rep. Tom Emmer’s flattery of Sam Bankman-Fried and others tied to FTX didn’t just begin after the exchange came tumbling down.
In March 2022, when FTX was bankrolling the uni-party establishment, including Kevin McCarthy’s political machine that massively funds Emmer’s campaigns, Emmer joined a bi-partisan group that became known as the “Blockchain 8” for their efforts to stop federal inquiries into FTX.
The group wrote a letter to Gary Gensler, the Chairman of the Securities and Exchange Commission, alleging that federal inquiries into FTX were “stifling innovation”.
Revelations of Tom Emmer’s FTX flattery come as the Minnesota Congressman and GOP Majority Whip launches a bid for Speaker of the House, backed by Kevin McCarthy, who recently became the first speaker in American history to fall by way of a motion to vacate.
Among those lining up to oppose Emmer’s candidacy is President Trump, who reportedly told those close to him that he is staunchly against Emmer becoming Speaker of the House.